| Previous Close | 0.1050 |
| Open | 0.1100 |
| Bid | 0.0950 x 0 |
| Ask | 0.1000 x 0 |
| Day's Range | 0.0950 - 0.1100 |
| 52 Week Range | 0.0900 - 0.3200 |
| Volume | 59,900 |
| Avg. Volume | 191,777 |
| Market Cap | 14.456M |
| Beta (5Y Monthly) | 0.32 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.0090 |
| Earnings Date | Apr. 08, 2021 - Apr. 12, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | N/A |
- GlobeNewswire
Millrock Announces Closing of Bought Deal and Concurrent Non-Brokered Private Placements
Not for distribution to United States newswire services or for dissemination in the United States. VANCOUVER, British Columbia, March 08, 2021 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") reports that the upsized bought deal (underwritten by REDPLUG Inc.) and concurrent non-brokered private placements reported in the Company’s news releases of February 23 and March 2, 2021 (together, the “Financings”) have closed. Gross proceeds totaling $3,146,434.80 were raised by the Company’s issuance of 37,016,880 units (“Units”) at a price of $0.085 per Unit (the “Offering Price”), including 4,311,000 Units issued pursuant to REDPLUG Inc.’s exercise of the over-allotment option. Each Unit consists of one common share of the Company and one common share purchase warrant (the “Unit Warrants”). Each Unit Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.1275 per share for two years from the date of issuance. Millrock President & CEO Gregory Beischer commented: “We were very pleased to have received such strong support from our existing shareholder base in this financing and we welcome new shareholders. The funds we have raised will be put to good use for generation of new projects. While gold will still be a focus commodity, we are looking to expand our portfolio with greater emphasis on copper, nickel, and a variety of other critical and strategic metals. Generative efforts in the past 18 months have led to some excellent funding partnerships with earn-in companies. The coming year will see a lot of drilling on Millrock controlled projects. We will be hoping to make the transformative discovery that will result in the share price appreciation we all want to see.” Officers and directors of Millrock subscribed for a total of 1,300,880 Units in the financing. These subscriptions constitute “related party” transactions within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. However, these subscriptions are exempt from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the securities issued to the participating officers and directors, nor the fair market value of the consideration paid, exceeds 25% of Millrock’s market capitalization. REDPLUG Inc. was paid a cash commission of $148,971.85 and was issued non-transferable broker warrants for the purchase, at the Offering Price, of 2,184,880 Units (the “Broker Warrants”). Each Broker Warrant is exercisable for two years from the date of issuance. Finder’s fees consisting of cash and non-transferable finder warrants (the “Finder Warrants”) were paid to the following: Canaccord Genuity Corp. $5,176.50 and 32,900 Finder Warrants; Haywood Securities Inc. $27,072.50 and 84,000 Finder Warrants; Echelon Wealth Partners $4,760; GloRes Securities Inc. $5,598.95; Sightline Wealth Management $3,391.50 and Sprott Capital Partners LP $680. Finder Warrants have the same terms as the Unit Warrants. The securities issued in connection with the Financings are subject to a hold period expiring on July 9, 2021. The Financings remain subject to final TSX Venture Exchange acceptance. About REDPLUG Inc.REDPLUG Inc. is a registered exempt market dealer specializing in private placements in the junior resource sector, with a primary focus on silver, gold, platinum, and palladium. REDPLUG’s accredited investor clients are building positions in well-managed, insider-owned, resource companies including: prospect generators, advanced explorers, resource developers, and near-term producers. Visit REDPLUG.com or call 1-844-RED-PLUG. About Millrock Resources Inc.Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The Company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, and is a significant shareholder of junior explorer ArcWest Exploration Inc. and of Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and Altius as well as junior explorers Resolution, Riverside, PolarX, and Felix Gold. ON BEHALF OF THE BOARD“Gregory Beischer”Gregory Beischer, President & CEO FOR FURTHER INFORMATION, PLEASE CONTACT:Melanee Henderson, Investor RelationsToll-Free: 877-217-8978 | Local: 604-638-3164Twitter | Facebook | LinkedIn The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable states securities requirements or pursuant to exemptions therefrom. This news release shall not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction.
- GlobeNewswire
Millrock Announces Upsizing of Bought Deal and Concurrent Non-Brokered Private Placement Financings
Not for distribution to United States newswire services or for dissemination in the United States. VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") reports that, due to overwhelming demand from its existing shareholder base, the bought deal and concurrent non-brokered private placements announced on February 23, 2021 have been upsized. The bought deal private placement being undertaken by REDPLUG Inc. (“REDPLUG”) as underwriter will now consist of 23,000,000 units of the Company (“Units”) at a price of $0.085 per Unit (the “Offering Price”) for aggregate gross proceeds of $1,955,000 (the “Bought Deal”). REDPLUG’s option to purchase for resale additional Units at the Offering Price, exercisable in whole or in part any time up to 48 hours prior to the closing date of the Bought Deal, has been increased from up to 4,500,000 Units to up to 5,750,000 Units for aggregate gross proceeds to the Company of $488,750 in the event REDPLUG exercises this option in full (the “Over-Allotment Option”). The concurrent non-brokered private placement financing will now consist of 9,600,000 Units at the Offering Price for aggregate gross proceeds of $816,000 (the “Concurrent Non-Brokered Placement”). Each Unit will consist of one common share of the Company and one common share purchase warrant (the “Unit Warrants”). Each Unit Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.1275 per share for two years from the date of issuance. The gross proceeds from the Bought Deal and (if fully subscribed) the Concurrent Non-Brokered Placement in the aggregate amount of $2,771,000 will be used to advance exploration on the Company’s current projects in the following approximate amounts: $500,000 for exploration on current projects, $950,000 on generation of new projects, $150,000 for marketing of projects to funding partners, with the remainder for general corporate purposes. The Bought Deal and the Concurrent Non-Brokered Placement remain subject to TSX Venture Exchange approval. Millrock also clarifies that the record date in connection with the existing shareholder exemption provided for in British Columbia Instrument 45-534 and similar exemptions in other jurisdictions of Canada (the “Existing Shareholder Exemption”), is February 22, 2021 (the “Record Date”); to be eligible to subscribe under the Existing Shareholder Exemption, the subscriber must have been a shareholder of the Company at the close of business on the Record Date and continue to be one on the closing date of the Concurrent Non-Brokered Placement. About REDPLUG Inc.REDPLUG Inc. is a registered exempt market dealer specializing in private placements in the junior resource sector, with a primary focus on silver, gold, platinum, and palladium. REDPLUG’s accredited investor clients are building positions in well-managed, insider-owned, resource companies including prospect generators, advanced explorers, resource developers, and near-term producers. Visit REDPLUG.com or call 1-844-RED-PLUG. About Millrock Resources Inc.Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, and is a significant shareholder of junior explorer ArcWest Exploration Inc. and of Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and Altius as well as junior explorers Resolution, Riverside, PolarX, and Felix Gold. ON BEHALF OF THE BOARD“Gregory Beischer”Gregory Beischer, President & CEO FOR FURTHER INFORMATION, PLEASE CONTACT:Melanee Henderson, Investor RelationsToll-Free: 877-217-8978 | Local: 604-638-3164Twitter | Facebook | LinkedIn This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of Offered Securities in any state in which such offer, solicitation or sale would be unlawful. The Offered Securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the intention to undertake the Bought Deal and the Concurrent Non-Brokered Placement and the intended use of proceeds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the receipt of TSX Venture Exchange acceptance, and completion of the Bought Deal and Concurrent Non-Brokered Placement.
- GlobeNewswire
Millrock and Partner Felix Gold Expand Fairbanks Gold District Claim Footprint and Complete Airborne Geophysical Surveys at Treasure Creek Project, Alaska
Figure 1: Project Location Map. The projects are situated close to the mining and transportation hub of the City of Fairbanks in the Fairbanks Northstar Borough. Figure 1: Project Location Map. The projects are situated close to the mining and transportation hub of the City of Fairbanks in the Fairbanks Northstar Borough. Figure 2: Fairbanks Gold District Claim Map. Claims staked by Millrock and now controlled by Felix Gold are shown in blue. The claims cover in excess of 20,200 hectares of mineral rights that contain numerous gold prospects. Figure 2: Fairbanks Gold District Claim Map. Claims staked by Millrock and now controlled by Felix Gold are shown in blue. The claims cover in excess of 20,200 hectares of mineral rights that contain numerous gold prospects. Figure 3: Airborne magnetic map from recently completed survey. The magnetic map indicates areas of intrusive rocks and structures that assist in tracing gold mineralization. Historic prospect locations are shown. Figure 3: Airborne magnetic map from recently completed survey. The magnetic map indicates areas of intrusive rocks and structures that assist in tracing gold mineralization. Historic prospect locations are shown. Highlights 208 State of Alaska mining claims have been staked to cover areas prospective for gold mineralization.Land holdings in the Fairbanks Gold District now cover approximately 20,200 hectares.Plans are being made to begin rotary drilling at the Treasure Creek project to test for extensions of gold discoveries made by prior workers.An airborne magnetic survey was completed over the Treasure Creek project. Gold-bearing structures are traced. VANCOUVER, British Columbia, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) announces that it has expanded the size of the Treasure Creek and Ester Dome gold projects and has staked numerous other claim blocks throughout the Fairbanks Gold District. The claims are subject to purchase agreements with soon-to-be-listed Felix Gold Ltd. Felix Gold is currently a private Australian company that is expected to gain a listing on the Australian Securities Exchange (“ASX”) in the coming months. Millrock has assigned its rights to Felix Gold in return for a large equity stake in the company once it is listed on the ASX, as announced in Millrock’s January 12th, 2021 press release. Felix Gold Managing Director Joseph Webb commented, “We are honored to be working with the Millrock team. They have assembled a great land package and bring an extensive understanding of Alaska gold districts and local operational expertise. Felix Gold, through the Mines Discovery Fund backers, brings an outstanding technical team with global experience and significant commercial strength. The Fairbanks Gold District is underexplored and has real potential for multiple new gold deposit discoveries. Millrock is positioned at the center of what we envision as the next wave of major gold discoveries in the Fairbanks Gold District, which features Kinross’s Fort Knox gold mine and significant alluvial gold production.” Under the terms of the agreement, in addition to the equity stake in Felix Gold, Millrock will be entitled to cash payments in the form of Advanced Minimum Royalty (“AMR”) payments that can later be deducted from Net Smelter Return (“NSR”) production royalties, if a mine is developed. Any claims released from the agreement by Felix Gold will be returned to Millrock. Felix Gold and Millrock are building an outstanding team of practical exploration geoscientists with local and global expertise. The teams will work in a collaborative manner to assess the entire Fairbanks area. The group intends to aggressively explore the Fairbanks area and make new gold discoveries. The claims are in close proximity to Kinross’ Fort Knox gold mine which has produced more than 8 million ounces of gold and has substantial resources for future production (source: Kinross Gold Corporation website). The Treasure Creek project and other recently staked claims are also in close proximity to the Golden Summit project, which is operated by Freegold Ventures Limited (“Freegold”). Freegold announced excellent drill results in 2020 that resulted in substantial share price appreciation. Figure 1: Project Location Map is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91aaf76b-89da-4d13-a70c-87be61d41236. The projects are situated close to the mining and transportation hub of the City of Fairbanks in the Fairbanks Northstar Borough. Figure 2: Fairbanks Gold District Claim Map is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d0ac1c2-0d66-4601-bd62-3ff8e309b33d. Claims staked by Millrock and now controlled by Felix Gold are shown in blue. The claims cover in excess of 20,200 hectares of mineral rights that contain numerous gold prospects. Exploration in the Fairbanks Gold District is already underway. With funding from Felix Gold, an airborne magnetic survey was completed in December on the Treasure Creek project. Results have been received and are being reviewed into the historic proprietary and public geological database that has been assembled. Strong drill targets are emerging and plans are being made to begin drilling at the earliest opportunity. An initial test with rotary drilling followed by deeper reverse circulation drilling is envisioned. Figure 3: Airborne magnetic map from recently completed survey is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ac8628ff-dc4b-4770-8d66-7f27d11b5c7c. The magnetic map indicates areas of intrusive rocks and structures that assist in tracing gold mineralization. Historic prospect locations are shown. Millrock President & CEO Gregory Beischer commented, “We are building a great exploration team that will be dedicated to responsibly and effectively exploring the Fairbanks District for gold deposits. While there is a lot of advance work to do, such as the recently completed airborne geophysical survey, discoveries are made with the drill bit. We look forward to getting started on our drilling programs as soon as possible, and Treasure Creek is a great place to start. The prospects we will drill are literally within sight of the great Fort Knox gold mine and we have great indications of gold beneath the Treasure Creek claims.” Qualified PersonThe scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101. Mr. Beischer has reviewed drill core and assay results from the historic drilling and is satisfied that the results reported are accurate. About Millrock Resources Inc.Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, and is a significant shareholder of junior explorer ArcWest Exploration Inc. as well as a shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and, Altius, as well as junior explorers Resolution, Riverside, PolarX, and Felix Gold. ON BEHALF OF THE BOARD“Gregory Beischer” Gregory Beischer, President & CEO FOR FURTHER INFORMATION, PLEASE CONTACT:Melanee Henderson, Investor Relations(604) 638-3164(877) 217-8978 (toll-free) Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to mount further exploration including drilling in 2021. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
